Tweed Inc. workers tend to medical marijuana plants at a new commercial operation set up inside a former Hershey's chocolate factory in Smiths Falls, Ontario, an hour's drive from Canada's capital Ottawa, on February 4, 2014. AFP PHOTO/MICHEL COMTE
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
An hour's drive south of Canada's capital, past snow-covered pine forests and farmland, Chuck Rifici is growing marijuana at an old Hershey's factory.Rifici's startup Tweed Inc. is one of only six companies so far to earn a license to grow from Health Canada and will be the first in the world to be publicly traded on a stock exchange.When renovations are completed, the Tweed factory will contain 30 grow rooms containing 1,300 plants each, as well as a "mother room" for seedlings.The vault can hold up to CA$150 million worth of cannabis.The use of marijuana for medicinal purposes was effectively legalized in Canada in 1999, and such use has been expanded through a series of court challenges.Health Canada is reviewing 450 applications for the new commercial licenses.Customers have already started placing orders for Tweed's 25 strains that will sell for CA$4 to CA$12 per gram.Tweed initially expects to harvest 50-100 kilograms of marijuana every two months. Canadian-Dutch joint venture Bedrocan is expected to become the first to legally import marijuana into Canada.Tweed currently employs 20 staff, but as it ramps up, it expects to add up to 200 jobs.
FOLLOW THIS ARTICLE